India’s Unacademy bags new capital from Tiger Global Management at $2b valuation

India’s Unacademy announced it has raised an undisclosed amount of funding from Tiger Global Management and Dragoneer Investment Group.

(From left) Unacademy co-founders Roman Saini, Gaurav Munjal, and Hemesh Singh / Photo credit: Unacademy

The latest investment, which values the edtech startup at US$2 billion, comes after it secured US$150 million in a funding round led by SoftBank’s Vision Fund 2 in September. Unacademy also raised US$110 million in a series E round led by General Atlantic, Facebook, and Sequoia India in February this year.

Established in 2015, Unacademy allows educators on its platform to offer live interactive classes and create videos to supplement their lessons. It also recently launched a subscription plan for various exam types.

“The opportunity to improve lives through online education is enormous because of its sheer accessibility,” said Scott Shleifer, partner at Tiger Global.

According to a Zendesk-powered Inc42 report, the edtech market in India is expected to hit US$10.4 billion by 2025, increasing by 3.7x from US$2.8 billion this year.

Unacademy claims to be the largest learning platform in India with more than 47,000 educators teaching in over 14 Indian languages. The company also said it has learners across 5,000 cities who have participated in more than 150,000 live classes each month, accumulating over 2 billion minutes of monthly watch time.

The Bengaluru-based company is up against local competitor Byju’s, which is valued at around US$10.8 billion after completing a new round led by Silver Lake in September.